State pharmaceutical firm Kimia Farma (KAEF) targets to raise Rp3 trillion from its rights issue program. It will issue 1.57 billion new shares, representing 22.14% of its enlarged capital. Currently, public investors only hold 9.9% KAEF shares. The rights issue proceeds will be used for developing retail business (Rp300 billion), raw materials of medicine (Rp1.9 trillion), and other (Rp1 trillion).
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